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black eye for toyota, this time for one of its long-term champions. the slams the new lexus suv. we'll discuss what this means for the brand. >>> from consolidation to carry-on lcarry hf - carry-luggage fees. the president and ceo of virgin america will join us. >>> all right, well kmp back to "the call." i'm melissa francis. let's get you caught up on where the markets are trading right now. s&p 500 trading to the down side about 0.03%. the dow also trading on the down side, almost flat on the session, about 0.10% below that 11,000 mark right now and nasdaq on the down side. a little more than 0.10%. european markets getting ready for their close and right now all of them in the down, as well. the cac down by 11 points. >>> lots going on in the airline sector including increased consolidation. of course, charging for carry-on luggage as airlines scramble to find new sources. joining us right now to discuss, we have virgin america president and ceo david cush. first of all, your thoughts on this increased consolidation we're seeing and how that will affect you and your business. >>
that toyota is fined by the federal government of $16.4 billion for not notifying them, and that is the largest fine ever. so we are seeing a dip, but there are recovery in shares of toyota, but nonetheless, that is a significant story, and again, wrapping up the headline, the dow jones industrial average inching so closely to dow 11,000, a place it has not been since september of 2008. however, it with elusive on this day, maria. >> thank you, scott. a big day for energy. oil prices surging past $86 a barrel, and heavy volume as well, and here is sharon epperson at the nymex with that story and this is another one that won't quit, sharon. >> right. since october of 2008 have we seen prices at these levels. when you look at oil prices over the last week and month, you will see how we broke out of the recent range and decidedly so and where are the oil prices headed? well, almost every analyst says little technical resistance to where we are to $90 a barrel. you add to that the fact of positive economic data on jobs and pending home sales today and service sector and man
story, safety tests now being ordered on every suv that is made by toyota. >>> the automaker insisting it wants to put customers at ease after being forced to halt sales of their high-end lexus. consumers reports warned the readers not to buy it after there was potential rollover risks. >> we are tracking the story this morning. you brought us earlier in the week, when we last left, toyota hadn't weighed in. >> toyota has learned a tough p.r. lesson. auto giant moving quickly after the highly respected nonprofit group, consumer reports, warned their readers not to buy the gs-460. a potential stability problem with the $52000 suv. the vehicle's rear end repeatedly slides out in tight turns posing a risk for rollovers when exiting a highway. toyota is ordering tests on all of their suvs to determine potential problems. the company denying published reports in japan that it is recalling the 2010 gx-460. if you do own one and you are nervous about driving it, toyota is offering a free loaner car until the problem is fixed and identified. the big problem is that the company says, quote, the
civilians in baghdad. one of them working as a journalist. >>> and the government ordered toyota to pay the largest ever penalty against an automaker. somewhere in america... there's a home by the sea powered by the wind on the plains. there's a hospital where technology has a healing touch. there's a factory giving old industries new life. and there's a train that got a whole city moving again. somewhere in america, the toughest questions are answered every day. because somewhere in america, more than sixty thousand people spend every day answering them. siemens. answers. >>> welcome back. a look at the stock market. stock prices were lower in the early going. a recent rally had taken the dow near the 11,000 level for the first time in 18 months. you see right now the dow is lightly up. s&p up as well and so is the nads dak. >>> president obama is proposing dramatic changes to america's nuclear strategy. under the new policy, the u.s. would not use nuclear weapons against nonnuclear countries. but defense secretary robert gates insists that, quote, all options are on the table when it
. toyota is facing a record fine by federal officials. the national highway traffic safety administration wants toyota to pay more than $16 million. the agency says toyota failed to notify federal safety officials by that pedal defect in its cars. one airline is getting into the spirit of charging more. spirit airline announcing passengers will soon have to pay for carry on luggage. it will cost $45 to bring a bag on board that can't be stowed under a seat. next week china's president will be visiting the states and americans will be paying their taxes. form labor secretary is here. so let's kick it off here with jobs, obviously the biggest problem facing the economy here in america. you're the former labor secretary. what should the government be doing right now to help businesses create those new jobs we're looking for? >> well, small businesses are the major creator of jobs in america. they are having a hard time getting credit. one thing the government can do is simply to help the banks, regional banks, smaller banks, the sort that small businesses use to get credit to those small bus
, the united states transportation department plans to fine toyota $16.4 million for alleged safety violation thchlt has to do with when the federal government was notified about a potential problem with acceleration. the law is that they must be notified within five days and toyota said they notified them in a prompt fashion, but clearly this fine has to do with fact that toyota did not notify them quick enough, and they knew about the problems months before they took the steps necessary to notify the united states government. this is the largest fine against a automaker, and 16.4 million, that toyota failed to notify regulators promptly about the pedal defect, and it took them months, and you are supposed to do it within five days. >>> we saw the stock reacting as you were talking, phil, but it is now flat on the session. but certainly, as you were talking, we had a move from positive to negative, and now it is positive again, actually moving higher. >> huge implications here, maria, for the shareholders as far as opening up toyota for greater liability problems in terms of civil cases. thi
. walmart. >>> welcome back. we're following a developing story regarding toyota. transportation department official says toyota will now recall the 2010 lexus gx 460 to address a potential problem with the suv rolling over. you might recall last week "consumer reports" issued a don't buy warning for this vehicle saying that it was susceptible to rolling over. toyota suspended sales of the suv and now it is recalling some 6,000 vehicles sold since the suv went on sale for retail around $50,000. another blow here for toyota to report to you this afternoon. >>> and senate democratic aide now says the senate will take up financial regulatory reform thursday. that is the same day president obama comes here to new york to push for reform. republicans opposed to the measure are threatening to block the senate from taking action. nbc's kelly o'donnell joins us from capitol hill. so you've got scott brown, the new senator from massachusetts, saying he will -- it seems the democrats and the president have this all hands on deck strategy. they really want to get something done and think they've got m
to the financial disaster. and the story behind toyota getting slapped with a huge $16 million fine. but first the morning top headlines. >> the futures are indicating that we'll have a slightly weaker open. we had a rally yesterday. we had a move higher crosses 4% but right now it suggest as slightly lower open. australia central bank jumping by 25%, a 14-month high. also signalinging future moves in the future. an explosion ripping through a west virginia mine owned by mass see energy. four miners are still missing underground. they have a history of safety violations. three fatalities since 1998 and a worst than average injury rate during the last ten years. they are the largest coal producer in central ap lach cha. luds gud mob are you aglet's ge more reaction. david, good to talk to you. have you been given -- has the analyst community been informed by anything in the last 12 hours or so as a result of the mining accident? what can you tell snus? >> the company put out a press release to confirm the explosion and the deaths and that's pretty much it. i think right now we expect them to te
a key driver here. toyota was offering big incentives. a toyota auto executive said his company sales rose by 40% in march. hyundai says it u.s. sales rose as much as 18% last month compared to the previous year. auto nation's ceo will join us in the next hour and we'll learn more about what he's learning in terms of car sales. >>> meanwhile, tim geithner says the u.s. economy is still in a tough spot, but slowly on the mend. he saw down with nbc's matt lauer. >> you'll start to see businesses across the country start to add to payroll again. that's going to come -- the economy is growing now. that's the first step. but with growth, more jobs will come. but the unemployment rate is still terribly high, and it's going to stay unacceptably high for a long period of time. it's going to take a long time to bring it down just because of the damage of the recession. >> in a meeting yesterday in pen ben, geithner read with steelmakers. next week, he leaves for a trip to india. >>> we want to get a check on the markets as we begin the second quarter. wow, futures are looking pretty good here
comeback than his. you say toyota has it straight this time? >> i say toyota. still the best carmaker in the world. $44 billion with a b in cash on its balance sheet. $28 a share for an $80 stock. >> when you look at even a good company bike ford, they have a lot of debt, they don't have the cash that toyota does. >> toyota is a great company. the larger issue is people aren't buying new cars the way they used to. we are holding on to cars for longer. that will affect the industry for a long time. >> you are into e-commerce which you always love. >> it is called digital river. i own this stock i should say. they manage online sales for companies and they lost one of their largest customers a couple of months ago. the stock plummeted but they can come back. >> quentin, digital river, you like it. >> yeah, them for picking up after the loss of sim ma syman. they know they are in a bad way and can be squeezed. >> mercedes rid. why do you like it. $5 billion debacle. all the costs written down. i also own this stock and i believe they are well led. >> this is very expensive.
roll over. guess what? another toyota recall. i'm brian wilson, headquarter headquarte headquarter, live from the nation -- america's news headquarters, live from the nation's capital right now. across europe and around the world, air travel is grinding to a halt because of the icelandic volcano that continues to build smoke and ash thousands of feet in the air. the situation is even threatening to scuddle the president's plans to attend the funeral of polish president lech kaczynski. only 5,000 flights in the air over europe today. on a normal day, there would be almost five times that number. our own greg palkot is one of the thousands of stranded travelers. greg is stuck in dubai because his flight to europe was canceled like most of the other flights bound there. greg, what is the latest with travelers and flight schedules where with you are? >> hey, brian. we're stranded like tens of thousands of others around the world, thanks to the volcanic ash cloud across europe. we were traveling back from an assignment in yemen and hoping to transit today to london through this major ai
suspensions. toyota suspended sales of a lexus suv. rollover fears. now, the company is testing a bunch of other models for the same problem. i'll tell you what, for toyota, when it rains, it pours. >> you have no idea. you don't even know the anger that my husband and i feel towards what this woman has done. >> russia suspended adoptions by american families. you're looking at the face of heartbreak. this woman got so close to bringing her new son and daughter home. and then that tennessee woman sent her son back to russia back to russia with a note. >>> and the third kind of suspension. travel. an angry, messy and busy volcano between north america and europe will definitely do that. >>> but we begin with the acronym, we all know it, nasa, national aeronautics and space administration. but the meaning far more powerful, exploration, innovation and inspiration. >> i believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth. >> it was a promise. and a challenge. president kennedy set
. >> let's talk about the car industry and toyota took a big hit today in what respect? >> ok. transportation secretary ray lahood said toyota, you knowingly hid a dangerous defect. the sticking gas pedals. you're fined $16 million. the lawyers are going to have a field day with this. now, the government says you knowingly hid a dangerous defect. the lawyers have already sued. now they're going to say you covered it up. this could push toyota closer to a mass settlement of all these lawsuits and it will be very, very expensive. this is what could happen. >> one of the problems is the fact that they didn't have a recall months ago. they had to wait until it became a huge public outcry. the government says toyota, you should have reported this in five days. you took four months. that's a delay. you knowingly hid a dangerous problem. >> hold on, stu, because the government now owns most of general motors and chrysler. >> there is self-interest here. >> it is a conflict of interest, though, for the government to be fining toyota because some could argue, well, we kind of went the
to fly over the volcano to get a better look at what's going on. >>> we have another toyota recall to tell you about. the car maker says it is recalling about 600,000 sienna minivans. cables could snap while driving. the spare could fall into the road and become a hazard for other drivers. but only affects siennas in cold-weather states. >>> haiti's top prosecutor denies the country dropped charges against american missionaries accused of kidnapping 33 children after january's earthquake. yesterday, a spokesman told cnn the kidnapping charges against nine missionaries were dropped. but haiti's attorney general said that is incorrect. adding that a judge will decide whether a case goes to trial or not. a senior state department official also told cnn the charges were dropped. the missionary group's leader is still behind bars. >>> convicted sex offender john gardner pleaded guilty to killing a 17-year-old and a 14-year-old. in june, he is expected to get two consecutive life sentences without the possibility of parole. his plea spares him from a possible death sentence. the families
geithner speaking in new delhi. >>> u.s. regulators want to slap toyota with a civil penalty, amounting to about $16.4 billion, the biggest fine for an automaker in history. toyota failed to notify quickly about its defective pedals. toyota will not directly address the fines, but says it has taken the steps to improve communication issues. >>> south korea will recall 13,000 vehicles sold in the country because of suspected defaults. all the suspected models have floor mats which could hamper the operation of the pedals. nicole. >>> in the united states, 25 people have been killed in a blast in west virginia. four people are still unaccounted for and rescue operations have been halted. the blast happened monday afternoon at the upper branch mine. the cause is unknown, but the mine has a history of violations for not properly ventilating highly combustible gas. massey fell more than 5% in after hours trading. >>> the finance chairman will be watching china's currency practices closely in the next week to decide on what legislation congress should pass on the issue. saturday, treshgry sec
news on toyota. just agreeing to pay a record, mark, fine. this is $16.4 million. it's to u.s. safety regulators for the government's claim it delayed a massive accelerator pedal recall in january, and again, to give some perspective, that is a very small amount for a company like toyota. most fines are relative to the reputational issues, but when you think about wall street and the fines, for example, what this may cost goldman sachs, it's always the reputational issue that's much more costly than the actual fine. >> yeah. plus, now they've got that issue with their big suv, withdrawing it from sales because of safety concerns. hasn't been a good year for toyota. >> no, it has not. well, the s.e.c. reportedly investigating other mortgage deals by wall street's biggest firms after accusing goldman sachs of fraud. now we are going to be joined by senator kay bailey hutchison, republican member of the senate banking committee. she was obviously with us last week, and well, a lot of things have happened since then. senator hutchison, good to have you with us. we appreciate it. >> thank
. >> the military says a u.s. soldier was killed during the assault when a helicopter ended up crashing. >>> toyota agrees to pay a record fine, but its problems are not over. why the fallout from its sticking accelerator recall is only the beginning. >>> real estate developer donald trump is known for saying exactly what he thinks. so what does he think about the real estate market and the economy in general? cnnmoney.com poppy harlow said down to kind of pick his brain. i think we sometimes forget that he did make some money in real estate because we just think of him as a personality now. >> a lot of it. not just the one saying "you're fired" on the apprentice. we talked. it was a long talk about the economy, jobs, housing and the recovery. he spoke in depth that the fear of the fall of commercial real estate, office buildings, et cetera, could be worse than the decline of the housing market. he address that had and more. take a quick look. >> in terms of commercial real estate in general, the fear is that it will be worse than the housing fallout. do you think that's possible? >> i don't think
are calling her major fashion don't. not carrie! >>> plus, toyota has decided whether it wants to fight a $16 million fine for the sticky gas pedal problem. when i grow up, i want to fix up old houses. i'm going to work with kids. i want to run a marathon. [ female announcer ] at aarp we believe you're never done growing. i want to take him on his first flight. [ female announcer ] discover the best of what's next at aarp.org. here's what we can do with 4g from sprint. using the overdrive 4g mobile hotspot, jimmy's playing some video game online, jenny's video-chatting with a friend, and i'm downloading a huge presentation. and while that's happening, we'll enjoy some family time. [ computer beeps ] that was good. what can you do with 4g? [ male announcer ] experience 4g from sprint. it's more than a wireless network. deaf, hard-of-hearing and people with speech disabilities, it's a wireless revolution. access www.sprintrelay.com. >>> our military folks watching, today's salute is for an entire family, actually. it is from bruce and vivian kimball to their four children in the air force. two
this time. >>> moving on, it could be the smoking gun attorneys suing toyota needed. an internal e-mail obtained by cnbc showing a senior toyota executive warned the automaker to "come clean" about faulty accelerator pedals. phil lebeau covers the auto beat and just about everything else for cnbc, is live in chicago. phil? >> reporter: and david, this is the so-called smoking gun memo, although that might be overstating it a bit. it was a memo send by irv miller, who retired from toyota, a lead executive of toyota, from january 16th. here's the note in the memo getting the attention, revolving around whether or not they should alert the authorities about pedal defects. it says, "the time to hide on this is over. we need to come clean, and i believe that jim lentz and yoshi inaba were on the way to d.c. for meetings with nhtsa to discuss optioned." the so-called "come clean" e-mail sent five days before nhtsa was alerted of a recall from toyota of 2.3 million vehicles with faulty gas pedals. remember, last week, toyota was fined $16.4 million by the d.o.t. because it was slow in ena
. "consumer reports" issued a safety warning on toyota's 2010 lexus gs 460 suv because of an increased roll-over risk during a turn. the magazine says it uncovered the problem during routine tests and is urging car shoppers not to buy the gx 460 until this problem has been remedied. toyota owns lexus. it's the first time the magazine has issued a don't-buy recommendation on a toyota product. toyota says it will try to duplicate the "consumer reports" test to determine if appropriate steps need to be taken and that consumer safety and satisfaction remain their highest priority. so that's the lexus suv. the gx 460. >> more problems for toyota. >> bleeding over into lexus, which is the one place that the damage has been contained had never been smearing on lexus until now. it's terrible. >> andrew, by the way, you wrote an article today in "the times" talking about how the banks have actually paid back their money. correct? >> you know, it's absolutely right. i wanted to take a look at the idea that maybe these bailouts, in their own way, have worked, from a mathematical perspective. we're now
this morning, consumer reports are out with a shocking new warning on toyota lexus. you'll want to hear this. so still around. kevin ferry has the story from the futures pits. stay right here. >>> welcome back, wieveryone. it's being reported that toyota's lexus gx 460 suv is a safety risk. consumer reports says they're urging consumers not to buy this suv until rollover risks have been resolved. you to toy is responding that it's concerned with the reports and that its engineers condition duct similar tests. it promises to try and duply indicate the tests to see if steps should be taken. >> you didn't say anything about accelerators sticking, did you? >> no. this is a completely different problem. >> do they typically buy a car? >> no. it's a rare thing. there have been other suvs that have had problems. >> rollover risks? >> yes. >> that's what people worry about. >> they're so top heavy. anyway, we'll have more from phil coming up at the top of the hour. right now, let's talk about the trading day ahead. kevin ferry is standing by at the cme group. kevin, we've pushed above 11,000, just b
with that is almost impossible. >> it's truly perplexing. >>> the u.s. government is seeking to punish toyota for failure to act swiftly over its gas pedal issues. transportation secretary ray lahood is proposing that toyota pay a record fine of nearly $16.4 million after it, quote, knowingly hid a dangerous defect. documents show toyota knew about the defect back in september of last year but waited until late january to issue the recall. toyota still faces private lawsuits which could cost the automaker untold millions more in damages. that's a huge fine. >>> tiger woods took questions during a live news conference yesterday for the first time since his personal scandal broke back in november. woods talked about his affairs, his thanksgiving night accident and his wife, elin, who will not be joining him on the course. he also denied using performance enhancing drugs and discussed how he's looking forward to getting back on the course. >> that first tee i'm looking forward to it. i haven't looked forward to that tee shot in a long time. i've won numerous tournaments over the last few years,
reputation. >>> more trouble for toyota this morning. the company is recalling 600,000 sienna minivans because of possible corrosion in the spare tire carrier. it affects models between 1998 and 2010 driven in cold climate regions. they say that rust from road salt could cause the cable to break. meanwhile toyota said it's duplicated handling problems with the 2010 lexus gx-460. "consumer reports" issued a rare don't buy warning because of rollover concerns. toyota said it's evaluating remedies. >>> a wisconsin man may have found a piece of the meteor that cut through the midwestern sky this week. residents from wisconsin to iowa spotted the streaking space rock. the scientists are examining the recovered fragment which is about the size of an unshelled peanut. earlier reports indicate it could be from an asteroid belt between mars and jupiter. >>> some active weather this weekend. a strong storm knocked out power to more than 10,000 people in the ohio valley on friday. thunderstorms and high winds downed trees and power lines and caused damage to several homes. and it's looking more l
if they cost more? it worked with cigarettes. toyota has done a lot of research and a lot of work, and we've been open 24 hours a day -- 7 days a week. and we've made a tremendous amount of progress. you know, safety and reliability is top priority. i mean i got a family, too. i got a mother, a grandmother, kids, and we all drive in these cars. i am 100% confident in the product. [ male announcer ] we're grateful to technicians like ronny who are helping us provide you with safe and reliable vehicles. for more information, please visit toyota.com. where's my car? where's my car?!!!! where are you?! arghhh... (announcer) dr. scholl's massaging gel insoles give you outrageous comfort, all-day-guaranteed. woah. it's not too far... (announcer) are you gellin'? dr. scholl's. [ male announcer ] competition... it pushes us to work harder. to be better. to win. but sometimes even rivals realize they share a common goal. america's beverage companies have removed full-calorie soft drinks from schools, reducing beverage calories by 88%. together with schools, we're helping kids make more balanced ch
falling from shelves and hear a person screaming in spanish. >>> toyota executives are weighing their options after being slapped with a fine. the transportation will make toyota pay $16.4 million because they did not tell consumers quickly enough about the gas pedals. >>> trouble at the top, senate democratic leader harry reid is down playing political obstacles in nevada while michael steele is trying to diffuse speculation that he's on the way out. joining us now, bob shrum and pat buchanan. first, to you, bob. harry reid, the numbers are just awful. he claims he's being hurt by the economy, that he's doing fine, but when you look at him against any republican alternative, he's getting clobbered. >> he's going to have a tough race. he has a lot of strengths in that state, but the real question, this isn't about just harry reid. it's about the whole midterm, is where does the economy go next month and the month after that. if we see jobs continue to pick up and people feel better about the economy, democrats are going to do better, republicans are going to have to put some of
of adjustments here. >> all right, vera, thank you. >>> more trouble for toyota this morning. the company is recalling 600,000 sienna minivan. the recall affects sienna models between 1998 and 2010 driven in cold weather regions. it's duplicating handling problems with the lexus gx 460. consumer reports issued a rare don't buy warning because of rollover concerns. toyota says it is evaluating remedies. >>> well, some powerful spring storms make for a messy start this weekend. in pittsburgh, thunderstorms downed several trees causing widespread power outages affecting as many as 70,000 residents. that spread debris throughout neighborhoods and it's looking more like winter in parts of the northeast. the town of hanover, new hampshire, received a couple inches of snow on friday. just two weeks agothetemperatures in hanover were in the 80s. >>> and a strong storm knocked out power to more than 10,000 people in the ohio valley on friday. thunderstorms and high winds downed trees and power lines and caused damage to several homes. in jefferson county the wind was so high that it bent a flag po
.com and in sunday's paper. >>> topping the headlines right now, in a new blow to toyota, consumer reports is giving its luxus a rare don't buy warning. tests show it is acceptable to rollovers. >>> the polish parliament held a special ceremony to honor lawmakers killed in the crash in russia. >>> and as mourning continues, the state funeral for the president and first lady of poland is scheduled for sunday. >>> kyrgyzstan's leader says the abase will be allowed to remain, but manas still remains suspended indefinitely and the president could resign as early as today. he told reporters that he will retire if security is not -- >>> china is stepping closer to backing a fourth round, but doubts its long time trade partner is ready to cooperate with the united states. william cohen served as defense secretary in the clinton administration and is a frequent traveler to china. just back from china not too long ago. here we are at the nuclear summit and one of the big pluses was that the president did meet with president hu. president hu said they would talk at the united nations about sanctions, but abou
. that is a fascinating story. i like that one. >>> perhaps some people won't like this one. another recall for toyota. this time it's one of the company's minivans. [ male announcer ] when we built our first hybrid, youtube didn't exist. and facebook was still run out of a dorm room. when we built our first hybrid, more people had landlines than cell phones, and gas was $1.75 a gallon. and now, while other luxury carmakers are building their first hybrids, lexus hybrids have traveled 5.5 billion miles. and that's quite a head start. ♪ stories right now. more troubles for toyota. the automaker is recalling 600,000 sienna mini advance because of possible corrosion in the cable that secures the spare tire. the recall covers 1998 through 2010 models sold in cold climate states. >>> the number of bank failures in the united states this year is now at 50. federal regulators have shut down eight more banks. three are in florida, two in california and one each in massachusetts, michigan and washington. >>> the death toll from china from this week's earthquake reached 1,339. several hundred people are still
headquarters, i'm marianne rafferty. more problems for toyota and possible headaches for its mini van owners. the car maker is preparing for a voluntary recall of 870,000 mini vans in the u.s. and canada. a spare tire may come loose and fall on to the road, creating a hazard for other drivers. it applies to mini vans sold between 1998 and 2010. in the past few months toyota has recalled more than 8 million vehicles worldwide. >>> the crew of the space shuttle "discovery" pack their bags and head home to earth but not before exchanging goodbye hugs and handshakes with their counter parts. "discovery" docked from the international space station this morning. they are set to land monday morning in weather permits. i'm marianne rafferty. now, back to "geraldo at large." >>> this crisis could have been avoided if wall street firms were more accountable, if financial dealings were more transparent and if consumers and share holders were given more information and authority to make decisions but that didn't happen. and that is because special interests have waged a relentless campaign thwart even b
's forecast looks better. >>> toyota is announcing another recall, it is a 2010 lexus gx460, which "consumer reports" said could roll over when you make a high speed turn. toyota insists the luxury suv is still save as long as you take the turn slowly. a software update will fix the problem. for more information about g to cnn.com/rob cnn.com/robin. >>> arizona has just passed one of the toughest immigration bills in the country. it still needs the governor's signature but it would basically require officers to check the documents of anyone that they suspect might be in the u.s. illegally. correspondent richard lui, the critics say that this is legal racial profiling. >> what they do is believe these critics do, it leaves it up to the officers to basically make the determination if one looks like they're an an illegal citizen. alejandra gomez is afraid all latinos will be a target of police harassment if the government signs this bill into law >> right now the way things are being targeted is that all latinos are undocumented and that's absolutely not true. i'm a citizen and i'm if i'm pulle
. >> other stories new this morning at 14 minutes past the hour. toyota's faulty gas pedals bring on the largest fine ever imposed to the auto industry. the automaker is expected to agree to pay the government more than $16 million for waiting four months before reporting problems. >> you'll love this. five major airlines backing off plans to charge passengers for carry-on bags. spirit airlines recently announced a $45 fee to store bags, yes, in the overhead bins. chuck schumer got involved. he got delta and jetblue to promise they will not follow suit. he is meeting with spirit's ceo tomorrow. >> we actually had him on the show and talking about that whole thing and christina did a little breakdown of what you're getting when you fly these days. >> unbelievable. >> but we're talking about goldman sachs and the sec accusing this huge bank of fraud. >> a fraud charge for goldman sachs, a company that has minted money over the past 15 months, a company that took bailout money over a year ago, now charged with fraud by the sec. this story is just getting started. the drama started to
, new york city mayor michael bloomberg on the set of "morning joe." >>> and toyota accepts responsibility for the accelerator problems. plus, sports. we are going to be right back on "morning joe." [ whistling ] [ dog barking ] [ sniffing ] [ male announcer ] missing something? like 2 pairs of bifocals for $149.99 at sears optical, with progressive lenses for just $25 more per pair. hurry in to sears optical today and don't miss a thing. to finish what you started today. for the aches and sleeplessness in between, there's new motrin pm. no other medicine, not even advil pm, is more effective for pain and sleeplessness. new motrin pm. >>> all right. a live shot from the top of the rock. looks like a nice day in new york. >> he is doing the same -- i've always been a frank ridge fan. no secret to my conservative brethren, but over the last year or two, there are times when he's extraordinarily insightful and there are times when he reads like a left-wing blogger. going back to see what the richmond post dispatch said in 1863 or whatever he did, it was -- it was just sort of m
to 11,000. >>> and the tale of two automakers. toyota and ford are both expected to post monthly sales profits. and whether you're waiting for a shipment or waiting online, the ipad frenzy is under way. we'll check all the hype, next on cnbc. ♪ as you can see, this isn't your typical midwestern farm. the reason lies six thousand miles away... in japan, where a producer of specialty eggs needed corn for feed... grown to precise standards. cargill identified the producer's needs, then introduced an illinois farmer to grow the exact corn needed... and developed a system to ship it separately, connecting the farmer with a japanese customer... who was very appreciative. this is how cargill works with customers. most people try to get rid of algae, and we're trying to grow it. the algae are very beautiful. they come in blue or red, golden, green. algae could be converted into biofuels... that we could someday run our cars on. in using algae to form biofuels, we're not competing with the food supply. and they absorb co2, so they help solve the greenhouse problem, as well. we're making a big
. tomorrow -- five weeks. tomorrow will see the key march employment numbers come out, and toyota sales are booming in japan, up 50% last month. ford sales in china and local partners there, they jumped about 84% in the first quarter. let's get to eric bolling from fbn. what's going on here? >> well, initial claims which is the weekly number, they dropped 6,000 so that means 6,000 fewer people than the last week applied for unemployment insurance. that's the good news. a little bit more good news, tomorrow it looks like most analysts and most economists expect jobs to be created for the month of march. that's only the second time a month had job creation and last time was a year ago march, 64,000 jobs were created, and we've seen just month after month of job losses. so tomorrow the expectation is anywhere between 175,000 jobs created and 200,000 jobs created. the other piece of good news. now a little bit of the bad news, a lot of that job creation tomorrow ising with attributed -- being attributed to two major factors. number one, the census. the census has hired hundreds and hundreds
defect and it affects the acella. we had talked about toyota suspending worldwide sales of its lexus, gx 460. also saying it's starting safety tests for all the suvs. so that stock is down 8%, as well. >>> the banking stocks doing well on the back of good numbers from jpmorgan and that helped south korea's kospi push higher. the banks in south korea also doing well because moody's yesterday updating -- or upping the sovereign ratings and it does show that the financial health seems to be a little better. so good gains for the financials in south korea, as well. and on that note, i'll send it back to nicole in the u.s. >> and saijal, for all of you procrastinators out there, there is less than 20 hours to file your federal income tax forms. up nextwell, we will talk to john hewitt, a pioneer in the tax industry, coming up. ♪ well, look who's here. it's ellen. hey, mayor white. how you doing? great. come on in. would you like to see our new police department? yeah, all right. this way. and here it is. completely networked. so, anything happening, suz? she's all good. oh, my gosh. is that
for toyota. the japanese automaker is recalling about 600,000 sienna mini vanz sold in the u.s. because of possible corrosion problems. toyota says exposure to road salt may cause the cable holding the spare tire to break, allowing the spare to fall off and create a safety hazard. the recall covers 1998 to 2010 model year siennas with two wheel drive sold or registered in 20 cold climate states and the district of columbia. >>> and space shuttle "discovery" is on its way home. it undocked from the international space station earlier today after spending ten days at the orbiting spacelab. the astronauts are set to land at the kennedy space center in florida on monday. >>> four victims of school bullies, telling an adult can often make matters worse. so a middle school in austin, texas, has come up with a high tech way to battle the problem. it allows students to anonymously send e-mails or texts to administrators or teachers at the school, even bus drivers, and alert them to the situation. >> it gives them a way to speak honestly, there is no fear of retribution, no fear of students know
scandal, toyota agrees to pay a record fine for the federal government. [ man ] ladies and gentlemen, the 57th president of the united states. ♪ ♪ ♪ [ bell rings ] ♪ [ male announcer ] at&t. the nation's fastest 3g network. this mother's day, get 50% off all messaging phones after mail-in rebate, like the pantech reveal, only from at&t. as we're finishing up, i mention i'm going to the bathroom more often. he checks it out. good thing. turns out... my urinary symptoms -- such as going frequently, trouble going, flow starts and stops... are due to bph, also called enlarged prostate. he says over time, avodart has been shown to shrink the prostate, improve urinary symptoms, and reduce the risk of prostate surgery. only your health care provider can tell if your symptoms... are from bph and not a more serious condition... like prostate cancer. do not donate blood until 6 months after stopping avodart. tell your doctor if you have liver disease. rarely sexual side effects, swelling or tenderness... of the breasts can occur. avodart is for men only. women should not take or handle
.s. and iraqi officials are calling their death a major blow to the militant group. toyota has agreed to pay a record $16.4 million fine to settle claims that it hid a gas pedal defect from federal highway safety regulators, but the company denies it did anything wrong. separately today, toyota said it will recall more than 9,000 of its 2010 lexus gx sport 460 suv. what do you think? is this an actual iphone prototype or is it a scam? the tech website that posted these photos is not saying how it gold a hold of this device, but over the weekend, another website said someone found this phone on the floor of a bar in san jose. maybe an apple employee left it behind? apple hasn't confirmed that a new version of its iphone even exists. and a new study shows that women find steady-voiced men more attractive than men whose voices vary in pitch. the researchers said they found men who speak in monotone had more sexual partners possibly because their voices exude authority and confidence. so now we know what urkle's problem was. >> thanks, joe. still ahead tonight, keeping them honest on wall street
. >> have you sold a toyota recently and if so, did it just peel out of the lot and then roll over on itself immediately or what happened? >> that's a very irreverent remark, joe. >> irresponsible. go ahead. >> both of those. in march our toyota business on unit volume was up an astounding 38%. so what i always said through the whole crisis was that what we saw on the showroom floor was the fundamental confidence and trust in toyota remained. they needed at the end of the day to come with an incentive program to deal with the situation. i asked for that. i supported that. it was the right thing to do. it continues into april. toyota will come through this and it will cost them economically but as far as their position in the market, they're going to be able to maintain it. we also saw a revival of the domestic business in the first quarter led by ford motor company. so this is broad based automotive recovery under way and you can now say unequivocally with these results in the first quarter. >> looking there at the chart. hard to believe. $3 handle in october of '08 on autonation. we've come
toyota in the showroom. >>> and at the bottom of the hour, rand paul, son of republican congressman ron paul, he's running for u.s. senate in kentucky. he's also a doctor. he'll tell us why he rejects obama care. first, todd santos with a check of the weather. >> hello there, mika. good morning, guys. looks like a much better morning across the east coast, especially the northeast where the last few days we've been talking about the flooding, which is still ongoing. many rivers still, again, well out of their banks, especially the patuxet river in rhode island. at least this morning looking at cool temperatures giving way to clear skies in and around the new york city area. a few thin clouds heading for sunshine this afternoon. a pretty nice picture. d.c. making a run at the 8 80-degree mark. this afternoon, beautiful all the way down to central and southern florida. we'll be back with more. you're watching "morning joe" brewed by star bucks. ♪ [ male announcer ] the cadillac laurel sales event. featuring the all-new srx. ♪ with available glide-up navigation. and ultraview sunroof.
and controlling costs. >> last month was a big month and a lot of the incentives came at the market and toyota leading the market with incentives and old gm would have thrown money at the market to catch up with anyone else, and this gm is showing more discipline and you will see it in the discipline results. >> ipo this year is a strong possibility, but before that, the analysts want to see if the gm rebound can last. >> these are positive signs, but they are not out of the woods yet. we have a ways to go, and i don't think they will be able to go public on the time frame any time soon. >> for gm workers in kansas city, there is optimism building with every malibu that rolls off of the line. >> well, it was great news for general motors and fairfax here, and good news to get the money we needed to pay the government back. >> we are excited about it. you know, that means job security. >> how much job security? well, gm is now running three shifts at this plant. they will add another 900 jobs which is a commitment to sink more money into the plant they announced today, maria, general motors is
at today's top stories. >>> toyota announces it will now test the safety of all sport utility models. the effort is to reassure buyers after consumer reports placed a don't buy label on the 2010 lexus gs460 due to possible rollover problems. toyota says it has not decided whether to recall the gx460, which is stopped selling in the u.s. following the consumer reports warning. >>> an erupting volcano in iceland is affecting flights from u.s. to europe this morning. flights have been halted across northern europe. it's the volcano's second eruption in two months but officials say this one is 20 times more powerful than the last one. hundreds of nearby residents have been evacuated. >>> breaking overnight -- the russian foreign ministry is suspending all adoptions of russian children by americans. the freeze will be in effect until the two countries reach an agreement on adoption procedures. it comes after a tennessee woman sent back her 7-year-old adopted son to moscow by himself with a note claiming she no longer wanted to raise him. the case has ignited strong outrage in russia and h
since toyota sliced prices and all the automakers slashed to match them, and there is an incentive to buy cars. seems things are happening. like an oil tanker, hard to turn around, but once it's moving -- >> once we see the horizon in the right direction, we get excited about it. hal, i am happier reporting on the potential for good economic news than i am of the likelihood of bad news. >> yeah, i see more grinz around this place than the last time we talked about this particular issue. what was the number last year about this time in the stock market? nearly half of what it is? i would hardly call that a green chute, even. it's god's tear falling onieden as far as the south carolitock concerned. >> i would say part of the issue is it doesn't all seem fair when the economy is going down, and it doesn't all see fair when it's coming up. listen to this and let's move on. at a congressional meeting this week president obama addressed what he hopes to achieve through financial regulatory reform. listen to this. >> i am actually confident we can work out an effective bipartisan package
created since gm emerged from bankruptcy. the fallout from toyota's safety problem appears to have given americans a renewed confidence in u.s. cars. 46% of americans said asian cars were superior to american cars. now, american cars are preferred by a 38-33% margin. economists at the university of michigan say that despite the gains in the auto industry this year, the state will lose 40,000 jobs. that is sadly encouraging news, simply because original forecast had michigan braced to lose twice that many jobs. in a moment, governor granholm. [ female announcer ] any hair can shine in the spotlight, but aveeno hair shines in real life. introducing a whole new kind of shine from aveeno nourish plus. when hair is damaged, the cuticle doesn't reflect light well. with active naturals wheat protein, these formulas target and smooth damage so light reflects more visibly. [ female announcer ] a study showed 75% more shine after just one use. real shine, for real life. yours. [ female announcer ] visit aveeno.com for a free sample from the new nourish plus shine collection. that's the beauty of n
. >>> for the second time this week, more technical troubles for toyota. they are recalling 6,000 sienna minivans. they are concerned rust could erode a fastning cable creating a hazard. a consumer report said the vehicle has a high risk of a roll over on one vehicle. >>> the shuttle and astronauts undocked from the space station three hours ago, and are set to return to earth on monday, and it may be a long time before so many people are together again in space. only three shuttle flights remain. each with a crew of six. to design the future of flight, inside and out. to build tomorrow's technology in amazing ways. and reshape the science of aerospace -- forever. around the globe, the people of boeing are working together, for the dreams of generations to come. that's why we're here. ♪ i thought i was invincible. i'm on an aspirin regimen now because i never want to feel that helplessness again. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. talk to your doctor, and take care of what you have to take care of. (announcer) we all want to stay active. we do
higher. >>> incentive war led by toyota helping increasing sales. we'll fill you in on the numbers. >>> let's look at how the market finished for a week. prime merica went public. they're ringing the closing bell. they certainly did create a lot of spark of excitement down here. accelerating at the close. no down we saw money moving into the market in the afternoon hours. it was stronger at the open, gave up much of the games. 10,927 last trade on the blue chip average. nasdaq was also high ir, fractional move there. >> a little more volatility we've. that's a good thing, up as much as -- and let's look at the positive points here today in the first trading day of the zk. pricing their ipo, and
,000 digital books and 3 million applications to the ipad during that span. >>> toyota forming a quick response complaint team if drivers experience unintended acceleration. the quick analysis response team or s.m.a.r.t. will analyze any complaint within 24 hours. >>> david menlo,is joining us on the phone. are you with us, david? >> i am with you. about this particular offering, it is obviously going to be a institutional sweetheart on the surface just by the name itself, but this is something where you have to peel back the first few layers of the artichoke to really see the huge debt load underneath. >> it is interesting that they will be coming to market with a huge offering now. does that tell you anything about their expectations for the market or for reception? they have to believe that they are going to be received well if they come out with a $4.5 billion deal? >> well, the odds are favoring the investors of this particular offering or any that come out at this point, because the valuations are still extraordinarily low. but obviously, there is a need for cash on the part of this compa
with analysts and investors today for gm the focus is profits and the timetable for an ipo. for toyota about getting past the recall fiasco. phil lebeau is listening in on the details. what did you hear? >> general motors gave us the fourth quarter financial updates july 10th through the end of last year and a couple of things stand out here. overall, the loss was $4.3 billion, $3.4 billion in the united states. during the conference call cfo chris lidel said it was close that the company was to break even when you strip out one-time charges. that's the first time that we heard them say that they are this close to break even. they have roughly $36 billion in cash and equivalence on hand. he plans to underpromise and overdeliver as gm moves towards getting back in the black. >> we are committed to repaying the balance off by june of this year. significantly adhered of the or original repayment schedule. after we repay the loans, our shareholders to complete a successful public offering as soon as it makes sense. i know there is a huge interest in when that might actually be and the best i can
for "minding your business." toyota is temporarily such as pending sales of its lexus gs-460, the automaker promising to get to the bottom of a safety po tenial problem. there is an increased rollover risk making turns. toyota is asking lexus dealers to stop selling the vehicle until the problem is identified and corrected. >> we heard that story yesterday, and toyota did not have a response yesterday but they're weighing in on it. facebook, meanwhile, launching its redesign safety center. you know, facebook has been the subject of a lot of attention when it comes to how to police this, how to keep sex offenders off of these sites. they have new tools for parents, teens, teachers and police to deal with threats. the changes come the day after facebook officials met with child advocacy groups who have been pushing for something like a panic button that users can use or push it to report problems. >>> and speaking of the internets -- you hate to do it. >> internets. >> i like to this, throw that out. it's a pain in the neck to remember mixed case, upper, lower, a number or symbol. changing pa
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